Articles Posted in Financial Tips

by

The New York Times has posted an article warning consumers about “several unscrupulous companies that prey on homeowners who are having trouble paying their mortgages.”

These companies promise to save consumers’ homes from foreclosure for a hefty up front fee. After dealing with these deceptive debt-relief companies, consumers often end up worse than before.

The article quotes Derrick Briscoe, from Tucson, who was told by one of these companies to pay them $2,000 and quit paying his mortgage for three months. His home is now in foreclosure and he is currently seeking to get his money back. These companies often offer money-back guarantees but seldom pay them.

by
Posted in:
Updated:

by

Before agreeing to pay a debt of a spouse that you do not think you owe, Alabama Consumers should be wary of claims from aggressive and harassing debt collectors. We recently ran across a blog post from the The Divorce Blog entitled, “Woman Pursued for Deceased Ex-Husband’s Debt” that reminded us of some of the pitfalls and horror stories we’ve heard from clients about being pursued for a debt that is not even theirs.

In this article Ms. Killian started receiving calls from a debt collector for a department store credit card that her husband had opened. Simply put, Ms. Killian not owe the debt. The debt was solely her husband’s as she was not jointly on the account. Additionally, Ms. Killian believed she would be able to get the matter cleared up quickly and without too much difficulty for two additional reasons. Her husband had passed away and they had been divorced two years prior to his death.

Despite Ms. Killian sending documentation showing she had no responsibility for the debt, none of this mattered to the debt collectors. They called her repeatedly on her home and cell phones attempting to get her to pay for her deceased, ex-husband’s debt. She was only able to get the matter resolved after three years and after involving a Chicago Tribune columnist’s help.
Continue reading

by

We have found a blog which deals with consumer issues (not legal issues) and focuses on surviving and thriving without credit. To give you a taste of this fine blog, please read this post which reviews some of the best posts of 2007 from the blog No Credit Needed. No Credit Needed has lots of good tips and examples of how to lessen our need for credit.

Check this site as the less we depend on credit cards and other forms of credit, the less vulnerable we are to dealing with credit report errors, debt collectors, and other annoying things that we regularly blog about here. We can’t eliminate the risk of these but we can reduce our risk and the No Credit Needed blog is a good place to start.

Another resource for you is to join our Facebook Fan Page – Alabama Consumer Protection Attorneys where we share useful information about the same types of issues that we cover in this blog.

by
Posted in:
Updated:

by

CNN Money recently ran an article that Alabama Consumers should carefully consider. The title of the article is “6 Ways to Kill Your Credit Score.” It gives some great advice on six important areas where consumers can either hurt or help their credit scores. Below is a summary of this list:

1. Don’t let your balances on your credit cards exceed 30% of your credit limit.

2. Pay your bills on time. (One expert estimated that late payments of 30 days can result in up to a 60 point drop in your credit score)

by
Posted in:
Updated:

by

We know many Alabama consumers follow Dave Ramsey’s envelope system – here is a post that discusses how to do this using Quicken.

We appreciate the recent post in the Consumerist and Lifehacker for pointing this out to us.

Another resource for you is to join our Facebook Fan Page – Alabama Consumer Protection Attorneys where we share useful information about the same types of issues that we cover in this blog.

by
Posted in:
Updated:
Contact Information